CODE OF PRACTICE
The Property Buyers Association’s members are committed to legal, responsible and ethical business practices and ensuring that they act at all times in the best interests of their customers.
The Property Buyers Association regards the Code of Practice as an important statement by its members of their commitment to socially responsible practices. This Code is to be adopted as a means of industry self regulation and is intended to be rigorously applied to all forms of business and advertising practice.
The following are a set of basic principles which we would expect members of the Property Buyers Association to adhere to.
All members of the Property Buyers Association agree to the following:
INDUSTRY STANDARDS
- To display the code of practice on own website and / or to provide links to the Association’s website.
- To send the code of practice with all offers.
- To maintain adequate client records, including transaction histories, for a period of no less than 12 years.
TRANSPARENCY
- To ensure that all marketing adheres to Advertising Standards Agency regulations and is not misleading.
- To confirm all offers in writing to an agreed standard, for example such as the Key Facts Illustrations required for a mortgage.
- To advise clients to take Independent Legal Advice, particularly as regards explaining the contract and terms of tenancy.
FINANCIAL RELATIONSHIP WITH CLIENT
- To act with transparency in terms of rent costs and property valuation.
- To not charge upfront fees directly to the client.
CLIENT SECURITY
- To join the Association’s Compensation Scheme whereby members are to be severally liable for damages, supported by bond at an appropriate level.
- To adhere to strict data protection standards on behalf of clients.
- To ensure that all members who are involved in the buying process to be Criminal Records Bureau checked at an appropriate level.
CORPORATE SOCIAL RESPONSIBILITY
- To recommend housing benefit and debt management advice pre-completion.
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To signpost other bodies for advice, for example the Citizens Advice Bureau and Consumers Credit Association, and refinancing options such as Individual Voluntary Arrangements and to keep records of when these options have been highlighted to the client.
The service you deliver is both fast and effective and does take a lot of the stress of moving out of the equation; well it did for us! Thanks.
John & Paula, formerly of Coventry
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